So Money with Farnoosh Torabi

So Money with Farnoosh Torabi

Spain

Farnoosh Torabi is an award winning financial expert, best selling author and TV personality. So Money is her daily 30 minute podcast that brings financial wisdom and inspiration from the world's leading business minds, authors & influencers. What was their financial journey and how do they master their money today? Hear from Tony Robbins, David Bach, Robert Kiyosaki, Jean Chatzky, James Altucher, and many more. Learn about their financial wins, failures and philosophies. Plus, their secret guilty pleasures and what they wish they'd known about money growing up. On weekends, Farnoosh answers your biggest financial questions. Head to SoMoneyPodcast.com to submit your question today.

Episodes

546: Vera Gibbons, Financial Journalist  

There’s a lot happening in the political world, to put it lightly. It's hard to keep up. I have a hard time just consuming the morning news. It’s especially hard to know what’s happening outside of the political realm. What are some of the other things going on in society from health, to sports, to business?

Our guest today is financial journalist, Vera Gibbons, who is trying to solve that problem with her new daily newsletter, nonpoliticalnews.com. It highlight’s the day’s news and shares stats and facts that are being overlooked by the mainstream media, given the heavy political news coverage today. It prides itself on not having bias or opinions - just delivering the news.

A little bit more about Vera.... she and I have known each other for over a decade. She was the former financial contributor with CBS’s The Early Show and has also worked as a correspondent for CNBC’s High Net Worth. She still appears regularly on national news networks.

With Vera, we talk about how with a full-time job, she started this side gig, nonpoliticalnews.com, and how it’s really taken off. She takes us behind the scenes. Plus, her success with New York real estate starting with a little tiny studio that she bought from none other than Walter Cronkite. And what she thinks of the future of social media.

For more information visit www.somoneypodcast.com.

558: Jen Sincero, Author of You Are A Bada$$ at Making Money  

From subsisting on Taco Bell and living in a garage at 40...to becoming a #1 New York Times bestselling author and coach earning more than she ever imagined, our guest is going to share how we can all master the mindset of making wealth.  Jen Sincero is the author of the New York Times best-seller "You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life" and has now released a follow-up called "You Are a Bada$$ at Making Money: Master the Mindset of Wealth." In her latest book, she combines personal essays and advice to give readers the roadmap to a wealthier life. Jen is also a success coach and motivational speaker. She has spent more than a decade traveling the world to help people transform their lives and their bank accounts. Learn why she was always a little afraid of making more money. It had something to do with her relationship with her father. And, how to get over a victim mentality when it comes to you and your wealth.

For more information visit www.somoneypodcast.com.

557: Ask Farnoosh, Once I pay off my credit card debt should I lower the spending limits?  

Once I pay off my credit card debt can I lower the spending limits... how will this affect my credit? My income is variable... what happens if I open a Roth IRA this year and earn more than the income limitation? I opened a traditional IRA but is a Roth better? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

556: How to Afford Quitting Your Job with Kristen Field  

Have you ever thought of quitting your job? Maybe you're too stressed and you need to get out now before you find the next thing? Or maybe you just want to travel for a bit to clear your head? This idea of taking time off of work without having a job lined up is becoming increasingly popular. But then,the thought can be scary because of the unknown. It's a big risk. In the current April issue of O, The Oprah Magazine I tackle how to best afford this move. How much money to have saved, how to secure health insurance and how to make a great comeback when you're ready to work again.

In the column, I got to speak with some women who did this in all different circumstances and one woman in particular, Kristen Field. She's joining me on the podcast today to talk more about her personal experience, what she did with her time off and how she found work when she was ready to come back. How do you know when it's time to quit? How can you position a break on your resume so it doesn't look like this gaping hole?

A little bit more about Kristen: She's now an independent consultant supporting the President and CEO of Lifeway Foods, Inc. and supports Step Up as the National Interim Coordinator of Expansion and Fundraising. Prior to her roles now, she worked as a Director of Finance for an Aldermanic campaign in Chicago's 38th Ward.

For more information visit www.somoneypodcast.com.

555: Scott McGillivray, Real Estate Expert  

You know I LOVE real estate. I encourage you to share your questions for Ask Farnoosh. It's a topic I love. So I'm really excited to bring back today's guest, Scott McGillivray. You probably know him from HGTV's Income Property or Moving the McGillivrays but Scott is teaming up with Owners.com, which is an innovative online brokerage that offers tools and services to help buyers and sellers save money AND time. I'm all for that.

If you want to know more about Scott's money past and the best day of the week to buy a home go back and check out his initial So Money interview in EP 398.

In our conversation today, we talk about where the market is headed in 2017. Is this going to be a more expensive market for buyers, a cheaper market for buyers? How are interest rates going to drive the marketing? The financial sacrifices perspective homebuyers are willing to make to buy that home, because so many of us just want to become homeowners. At the same time, some people are just better off renting, and Scott has his take on who should buy and who should just rent.

For more information visit www.somoneypodcast.com.

554: Ask Farnoosh, Help! My parents are in their 50's with NO retirement savings.  

How can you help your parents if they're behind on their retirement savings? Should you put extra payments toward your mortgage? What should you ask for in a relocation package? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

553: Deepa Purushothaman, National Managing Director of Deloitte's Women's Initiative  

You all know by now that I'm a big believer that when women earn more and participate in leadership roles the world is a better place. Today's guest is is the National Managing Director of the Deloitte Women's Initiative (WIN). Which is helping to achieve just that. Deepa Purushothaman is our guest today and through WIN, she works to help build opportunity, enrichment and new thinking around talent and inclusion in the workforce so that all leaders, especially women, thrive. She also leads the Social Impact service line of Deloitte Consulting LLP and has a lot of experience working in the private sector. Previously, she was part of the Telecommunications, Media and Technology practice where she helped clients nationally and globally to redefine their company evolution. In this episode learn about the financial hardship growing up that shaped the way she thinks about and runs her financial life, the critical business meeting years ago that defined her leadership style and what she thinks about whether women should take a page out of the male playbook when it comes to succeeding in the workplace.

For more information visit www.somoneypodcast.com.

552: Nicole Lapin, Author of "Boss Bitch"  

Do you want to be your own boss? My guest today is author of the new book "Boss Bitch: A Simple 12-Step Plan to Take Charge of Your Career." Nicole Lapin is here. In her new book she talks all about embracing confidence to be a boss at work, at your company and in life. 

More about Nicole... she's also the author of the New York Times bestseller Rich Bitch and the star of the nationally syndicated business competition reality show Hatched. You can also catch her in Redbook Magazine every month as their resident money columnist. She's been on So Money before on EP 57.

Lots of great books on the market today related to women in the workplace and how to succeed. Nicole shares what differentiates Boss Bitch and how to tap into your inner badass to succeed at anything. To tell a great story you have to be brutally honest and Nicole is an open book. She shares the tough battles she's faced in her career, including lawsuits and failures. And we can't talk about women and work without getting real for a moment about how your career ambitions can impact your personal life. Nicole addresses female fertility and her decision to freeze her eggs, as a way to take control and better map out motherhood.  

For more information visit www.somoneypodcast.com.

551: Ask Farnoosh, How much should I spend on my mortgage payment & interest rate?  

My dad thinks renting is a waste of money but am I too young to become a homeowner? What exactly is home equity? If my wife and I want to buy a home in the next 5 years is saving the money in a Betterment account a good strategy? Just received a work bonus... where should I allocate the funds? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

550: Ilana Levine, Host of Little Known Facts Podcast  

Maybe you knew this about me? I was a total theatre junkie in high school and college. I acted, I directed. I minored in theatre. I think that if I was more risk-taking I would have pursued acting as a career. But then I just saw LaLa Land...and saw how excruciating the audition process is in Hollywood. I'm not sure I would have lasted long.

Ilana Levine is an actress who has appeared in multiple films, plays and TV shows...and the host of a new podcast called Little Known Facts where she interviews fellow performers about their lives, careers and of course all the juicy things you can't just find online about them. Like, did you know that Laura Linney was raised by a single mom in New York and spent her days after school as a latch-key kid? And Matthew Broderick was supposed to star in a breakout role with Sally Field, but then the director of the film passed away and the project never happened.

For more information visit www.somoneypodcast.com.

549: Leanne Jacobs, Author of "Beautiful Money"  

How would you describe your money, or your relationship, with money in one word? Some of us might use the word “complicated." Others might say their relationship is “automatic”, which is definitely true in my life. Leanne Jacobs wants us all to have a beautiful relationship with money. So, what does that mean?

Leanne Jacobs is a dear friend and a friend of the show. She was actually on episode 16 (one of our first shows in 2015 when we launched). She is a holistic wealth expert. Leanne’s out with a new book now entitled Beautiful Money: The Four Week Total Wealth Makeover. The promise of the book is this: “Connect and align your inner self with clear and specific external actions and you can achieve true wealth.”

Her book is based on her popular Beautiful Money Course, and she also has the Beautiful Money Podcast, where I was a guest on the show. I have to admit, when I first heard the concept of“beautiful money”, I thought it was a little abstract. And I thought it was going to get a little too woowoo for my taste because, you know, I’m pretty rational and pragmatic. I like action driven steps and so I was happy to hear that it really delivers just that.

Leanne doesn’t tell you to light candles and do sciences and repeat money mantras in your head. Instead, she really talks about how we can be accountable to ourselves, the shifts and changes that we need to make to really align our values with our money and achieve thus, beautiful money. I urge you, if you want to learn more about Leanne, go back to episode 16 where she talked about her own volatile journey with money and work and the vicious cycle that a lot of us get in to chasing the money, right?

For more information visit www.somoneypodcast.com.

548: Ask Farnoosh, How do my husband and I begin to tackle credit card and student loan debt in our marriage?  

Should I try and buy a home? How should my husband and I tackle our student loan and credit card debt? My company is making us sign new contracts... is now a good time to bring up a raise? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

547: Ann Shoket, Author of "The Big Life"  

We're going to learn how to make our mess our mojo today! I'm excited to bring back a lovely guest who's released a new book called The Big Life: Embrace the Mess, Work Your Side Hustle, Find a Monumental Relationship, and Become the Badass Babe You Were Meant to Be. Ann Shoket, the former Editor-in-Chief of Seventeen Magazine, is here. If you missed her on the podcast the first time go back and take a listen (EP 328).

Millennial women want to have it all - they want the career that comes with the money, they want friendships and they want a relationship where they are loved and respected. Is it really possible? Ann says YES. In the book, she provides actionable guidance from high-profile Millennial women who are on the quest to have it all. She wants to help the younger generation create their own version of the Big Life WITHOUT compromise. 

For more information visit www.somoneypodcast.com.

545: Ask Farnoosh, Should I put money I was gifted in a money market account?  

Should I put money that was gifted to me in a money market account? What type of supplemental retirement account is best? What will happen if you request forbearance on your student loans? Answering these questions and more on this week's Ask Farnoosh episode.

For more information visit www.somoneypodcast.com.

544: Jeff Tennery, Founder & CEO of Moonlighting App  

Is it the year you year to earn MORE? It's no secret I'm a huge fan of making as much money as you can and want…and leverage a side-hustle to boost income. Today's guest, Jeff Tennery, is the founder of Moonlighting. It’s the first nationwide mobile marketplace where anyone can hire or be hired in any community in the country. Jeff is a recognized expert on the gig economy and has been featured on news outlets nationwide on the topic including CNBC, The Wall Street Journal, Huffington Post and many others. Before founding the company, Jeff spent over 25 years in senior executive leadership roles at Verizon, AT&T Wireless, nTelos and Millennial Media. He’s also got a great, big family – 5 kids!

For more information visit www.somoneypodcast.com.

543: Beth Kobliner, Author of "Make Your Kid A Money Genius"  

Many of you write in to Ask Farnoosh and ask questions about how to set your children up for their financial futures or how to best teach them about money. I'm right there with you. Evan is almost 3 and I have him hand the cashier the cash when we check out at the grocery store. Maybe he's understanding that in order to go home with stuff we need to give something in exchange and that money is currency. Time will tell.

Beth Kobliner is a leading personal finance authority whose first book, Get a Financial Life: Personal Finance in Your Twenties and Thirties, became a New York Times bestseller. For years and STILL it was THE money book you gave to all your friends, kids, grandkids graduating from college. Years later, Bethis out with a new book Make Your Kid a Money Genius (Even If You're Not).  In it, she shares practical advice for teaching toddlers to young adults how to be smart with money.

Some more about Beth... . In 2010, she was elected by Obama to be a member of the President's Advisory Council on Financial Capability, where she created MoneyAsYouGrow.org, a resource to help kids develop some money skills.

Beth has some fresh and relevant advice to share on the show about how to raise money conscious children...and why bribing your kids to do well in school or do their chores with money is a wasted effort.

For more information visit www.somoneypodcast.com.

542: Ask Farnoosh, How can I lower the interest rate on my mortgage?  

How can you lower your interest rate on your mortgage? What's my favorite app for teaching college kids how to be responsible with their money? Should you take a career risk and join a company as their first employee? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

541: Amanda Steinberg, Author of "Worth It"  

How much is your self-worth tied to your net worth? Do you even know what your net worth it? Our guest today is on a mission to help people, especially women, increase BOTH their self and net worths. My friend Amanda Steinberg, genius founder of the personal finance website DailyWorth and the investment platform WorthFM has a new book called WORTH IT: Your Life, Your Money, Your Terms. What are the some of the silly stories we tell ourselves and society tells women around money? How was Amanda's unruly upbringing a big inspiration for the book's message? And also, what happened when Amanda got seated next to Oprah Winfrey at an event last year?
By the way, Amanda was on So Money Episode 40. Tune into that to learn about her financial upbringing, money failures, financial wins and so much more.
For more information visit www.somoneypodcast.com.

540: Emelyn Northway & Dorie Smith, Of Mercer Co-Founders  

As the saying goes: "Dress for the job you want, not the one you have.”

But, ok. What if you can’t exactly wear Prada to work each day? And the affordable options just don’t fit right or are made of lousy materials?

That’s where today's guests enter. Dorie Smith and Emelyn Northway are the co-founders of Of Mercer, career wear for the modern professional woman.

They met one fateful day while both attending business school at the University of Pennsylvania. They spotted each other across a crowded room because – guess what? They were wearing identical outfits.

They initially launched the brand back in 2013 as an ecommerce site. The company has received praise from top media outlets including The New York Times, Forbes and Inc. Magazine. Last year they finally opened their first brick and mortar store in New York City.

So how do two business students – with no experience in fashion – get the know-how and raise enough money to start a successful fashion line? And how to know when pairing up with a business partner makes sense?

For more information visit www.somoneypodcast.com.

539: Ask Farnoosh, Help! My boyfriend wants me to move to Australia...will this hurt my career?  

Should I move from NYC to Australia and will I be able to find a job there? Should I roll over my 401k from my old employer into my new 401k or a Roth IRA? I answer this and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

538: Emily Williams, Success Coach + Entrepreneur  

Raise your hand if you went through a quarter life crisis? I sure did. It was more like a quarter life hyperventilation/nervous breakdown. I was in a movie theatre with my brother watching the movie BIG FISH, that Tim Burton movie with Ewan Mcgregor and Albert Finney (aka Daddy Warbucks!) TEARS streaming down my face during this film. It wasn’t because it was a particularly sad movie. I just couldn’t get my mind off of work and the stress and the lack of sleep and how my boss was a total monster and on and on and on. I was also $30,000 in debt. I could have really used today’s guest for help back then. Success coach and entrepreneur Emily Williams works with female entrepreneurs all over the world and helps them overcome the financial, emotional and all other obstacles standing in front of their way.  At one point Emily, herself, had $30K in credit card debt and $90K in student loan debt. She had a meltdown in her 20’s and we’ll talk about how she managed to turn things around. When she finally got the idea to launch her own coaching business she went from making just $442, hitting six-figures by month six and growing it to seven figures in under 18 months. 

For more information visit www.somoneypodcast.com.

0:00/0:00
Video player is in betaClose